Weekly reviews

Bitcoin market technical outlook


Analysis method - “Trend’s Potential”

August 18, 2018

Daily chart: Orderly decline of bitcoin quotes continues in direction of the lower Bollinger band (5198.88). ADX falls and resides in a weak area, therefore, probably, flat inside lower Bollinger bands (5198.88-7406.67) will be continued.

Expectations: Decline towards 5200.00 and then continuation of the flat in the 5200.00-7406.67 range.

Trading recommendations:

  1. Shorts towards 5200.00.

  2. Search for probable buy signals at the 5200.00 region.